Trump budget cuts could hit research universities hard, Moody’s warns

Mar 29, 2017 by

President Trump’s budget proposal to slash federal research funding and end financial support for the arts could hurt the bottom line of colleges and universities that rely on those government dollars, Moody’s Investors Service said Tuesday.

The White House budget, released earlier this month, dials back discretionary funding for agencies that pour billions of dollars into higher education. If Congress passes the budget as proposed, Moody’s analysts say it would add financial stress to a number of colleges and universities.

The credit rating agency warns that the proposed $5.8 billion cut in funding to the National Institutes of Health would have the most significant impact on higher education. Roughly 80 percent of NIH’s budget supports grants to 300,000 researchers at universities across the country. Johns Hopkins University in Baltimore, for instance, was awarded $651 million in NIH funding in 2016, while University of California at San Francisco received $578 million.

Source: Trump budget cuts could hit research universities hard, Moody’s warns – The Washington Post

Print Friendly, PDF & Email

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.